Little-Acorn
Well-Known Member
Sounds like BP gave the government plenty of warning that problems were occurring in the mile-deep well that blew out two months later, killing 11 people and causing a huge oil spill in the Gulf of Mexico.
The government agency supposedly in charge, the Mineral Management Service (MMS), apparently did nothing, warned nobody, and made no suggestions to BP on modifying or curtailing their operations, following additional safety procedures, etc.
One thing that did apparently happen around that time: Goldman Sachs, the investment firm that had been bailed out that the U.S. Government and was under tight Federal regulation ever since, sold off a quarter billion dollars' worth of BP stock that quarter.
No connection has been found. And there has been no indication of the government investigating the timely sale.
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From:
http://www.bloomberg.com/news/2010-...well-as-early-as-february-documents-show.html
Cracks Show BP Was Battling Gulf Well as Early as February
By Alison Fitzgerald and Joe Carroll - Jun 17, 2010
BP Plc was struggling to seal cracks in its Macondo well as far back as February, more than two months before an explosion killed 11 and spewed oil into the Gulf of Mexico.
It took 10 days to plug the first cracks, according to reports BP filed with the Minerals Management Service that were later delivered to congressional investigators. Cracks in the surrounding rock continued to complicate the drilling operation during the ensuing weeks. Left unsealed, they can allow explosive natural gas to rush up the shaft.
On Feb. 13, BP told the [U.S. Government] minerals service it was trying to seal cracks in the well about 40 miles (64 kilometers) off the Louisiana coast, drilling documents obtained by Bloomberg show. Investigators are still trying to determine whether the fissures played a role in the disaster.
‘Cement Squeeze’
The company attempted a “cement squeeze,” which involves pumping cement to seal the fissures, according to a well activity report. Over the following week the company made repeated attempts to plug cracks that were draining expensive drilling fluid, known as “mud,” into the surrounding rocks.
BP used three different substances to plug the holes before succeeding, the documents show.
In early March, BP told the minerals agency the company was having trouble maintaining control of surging natural gas, according to e-mails released May 30 by the House Energy and Commerce Committee, which is investigating the spill.
On March 10, BP executive Scherie Douglas e-mailed Frank Patton, the [U.S. Government] mineral service’s drilling engineer for the New Orleans district, telling him: “We’re in the midst of a well control situation.”
The incident was a “showstopper,” said Robert Bea, an engineering professor at the University of California, Berkeley, who has consulted with the Interior Department on offshore drilling safety. “They damn near blew up the rig.”
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Despite being repeatedly warned about problems, gas surges, etc. in the BP well months before the blowout, the government's Mineral Management Service (MMS) appears to have done nothing and raised no alarms.
One thing that did happen around that time, though, is described:
http://rawstory.com/rs/2010/0602/month-oil-spill-goldman-sachs-sold-250-million-bp-stock/
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter.
The government agency supposedly in charge, the Mineral Management Service (MMS), apparently did nothing, warned nobody, and made no suggestions to BP on modifying or curtailing their operations, following additional safety procedures, etc.
One thing that did apparently happen around that time: Goldman Sachs, the investment firm that had been bailed out that the U.S. Government and was under tight Federal regulation ever since, sold off a quarter billion dollars' worth of BP stock that quarter.
No connection has been found. And there has been no indication of the government investigating the timely sale.
-------------------------------------
From:
http://www.bloomberg.com/news/2010-...well-as-early-as-february-documents-show.html
Cracks Show BP Was Battling Gulf Well as Early as February
By Alison Fitzgerald and Joe Carroll - Jun 17, 2010
BP Plc was struggling to seal cracks in its Macondo well as far back as February, more than two months before an explosion killed 11 and spewed oil into the Gulf of Mexico.
It took 10 days to plug the first cracks, according to reports BP filed with the Minerals Management Service that were later delivered to congressional investigators. Cracks in the surrounding rock continued to complicate the drilling operation during the ensuing weeks. Left unsealed, they can allow explosive natural gas to rush up the shaft.
On Feb. 13, BP told the [U.S. Government] minerals service it was trying to seal cracks in the well about 40 miles (64 kilometers) off the Louisiana coast, drilling documents obtained by Bloomberg show. Investigators are still trying to determine whether the fissures played a role in the disaster.
‘Cement Squeeze’
The company attempted a “cement squeeze,” which involves pumping cement to seal the fissures, according to a well activity report. Over the following week the company made repeated attempts to plug cracks that were draining expensive drilling fluid, known as “mud,” into the surrounding rocks.
BP used three different substances to plug the holes before succeeding, the documents show.
In early March, BP told the minerals agency the company was having trouble maintaining control of surging natural gas, according to e-mails released May 30 by the House Energy and Commerce Committee, which is investigating the spill.
On March 10, BP executive Scherie Douglas e-mailed Frank Patton, the [U.S. Government] mineral service’s drilling engineer for the New Orleans district, telling him: “We’re in the midst of a well control situation.”
The incident was a “showstopper,” said Robert Bea, an engineering professor at the University of California, Berkeley, who has consulted with the Interior Department on offshore drilling safety. “They damn near blew up the rig.”
----------------------------------------------
Despite being repeatedly warned about problems, gas surges, etc. in the BP well months before the blowout, the government's Mineral Management Service (MMS) appears to have done nothing and raised no alarms.
One thing that did happen around that time, though, is described:
http://rawstory.com/rs/2010/0602/month-oil-spill-goldman-sachs-sold-250-million-bp-stock/
According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4,680,822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter.
